Bharti seeks to raise 1 bn euros by reopening bond issue

Telecom service provider Bharti Airtel is in talks with investors to mop up a total Euro 1 billion by re-opening its euro 750 million bond offering, which received tremendous response last month.

“Bharti Airtel is looking to raise total of 1 billion euro (about Rs 8,400 crore) from EUR bond. It has already raised Euro 750 million in December from these notes,” an industry source said.

A Bharti Airtel spokesperson declined to comment on the development.

The Indian telecom major on Monday announced that "Bharti Airtel International (Netherlands) BV, a wholly owned subsidiary of Bharti Airtel Limited has approached investors for the reopening of EUR 750 milllion 4% senior notes due 10 December 2018."In December 2013, the Sunil Mittal led firm had raised euro 750 million (about Rs 6,350 crore) in the first such bond issue by an Indian corporate and received bids worth euro 3.8 billion.

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